{"id":6896,"date":"2025-06-11T04:20:51","date_gmt":"2025-06-11T08:50:51","guid":{"rendered":"https:\/\/cedice.org.ve\/ogp\/?post_type=avada_portfolio&#038;p=6896"},"modified":"2025-06-11T04:21:42","modified_gmt":"2025-06-11T08:51:42","slug":"venezuela-en-cifras-mayo-2025","status":"publish","type":"avada_portfolio","link":"https:\/\/cedice.org.ve\/ogp\/reporte\/venezuela-en-cifras-mayo-2025\/","title":{"rendered":"Venezuela en Cifras | Mayo 2025"},"content":{"rendered":"<p><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-1 fusion-flex-container has-pattern-background has-mask-background nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"background-color: rgba(255,255,255,0);background-position: center center;background-repeat: no-repeat;border-width: 0px 0px 0px 0px;border-color:hsla(var(--awb-color8-h),var(--awb-color8-s),var(--awb-color8-l),calc( var(--awb-color8-a) - 92% ));border-style:solid;\" ><div class=\"fusion-builder-row fusion-row fusion-flex-align-items-flex-start\" style=\"max-width:1248px;margin-left: calc(-4% \/ 2 );margin-right: calc(-4% \/ 2 );\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-0 fusion_builder_column_1_1 1_1 fusion-flex-column\"><div class=\"fusion-column-wrapper fusion-flex-justify-content-flex-start fusion-content-layout-column\" style=\"background-position:left top;background-repeat:no-repeat;-webkit-background-size:cover;-moz-background-size:cover;-o-background-size:cover;background-size:cover;padding: 0px 0px 0px 0px;\"><div class=\"fusion-text fusion-text-1\"><p>Con el objetivo de hacerle seguimiento a la evoluci\u00f3n de la macroeconom\u00eda venezolana y de evidenciar su relevante v\u00ednculo con el gasto p\u00fablico, el Observatorio de Gasto P\u00fablico de Cedice Libertad desarrolla los\u00a0<strong>Reportes Macro-OGP<\/strong>, ofreciendo a la ciudadan\u00eda e influenciadores clave informaci\u00f3n valiosa y permiti\u00e9ndole el monitoreo de estos indicadores.<\/p>\n<p>Asimismo ello permite a los usuarios medir el impacto de las decisiones de pol\u00edtica econ\u00f3mica en particular en el \u00e1mbito socio-econ\u00f3mico, fortaleciendo una ciudadan\u00eda libre y responsable. A continuaci\u00f3n, se describe el comportamiento de diversos indicadores macroecon\u00f3micos en el mes<\/p>\n<\/div><\/div><style type=\"text\/css\">.fusion-body .fusion-builder-column-0{width:100% !important;margin-top : 20px;margin-bottom : 20px;}.fusion-builder-column-0 > .fusion-column-wrapper {padding-top : 0px !important;padding-right : 0px !important;margin-right : 1.92%;padding-bottom : 0px !important;padding-left : 0px !important;margin-left : 1.92%;}@media only screen and (max-width:1024px) {.fusion-body .fusion-builder-column-0{width:100% !important;order : 0;}.fusion-builder-column-0 > .fusion-column-wrapper {margin-right : 1.92%;margin-left : 1.92%;}}@media only screen and (max-width:640px) {.fusion-body .fusion-builder-column-0{width:100% !important;order : 0;}.fusion-builder-column-0 > .fusion-column-wrapper {margin-right : 1.92%;margin-left : 1.92%;}}<\/style><\/div><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-1 fusion_builder_column_1_1 1_1 fusion-flex-column\"><div class=\"fusion-column-wrapper fusion-flex-justify-content-flex-start fusion-content-layout-column\" style=\"background-position:left top;background-repeat:no-repeat;-webkit-background-size:cover;-moz-background-size:cover;-o-background-size:cover;background-size:cover;background-color:var(--awb-color3);padding: 0px 25px 0px 25px;\"><div class=\"fusion-builder-row fusion-builder-row-inner fusion-row fusion-flex-align-items-flex-start\" style=\"width:104% !important;max-width:104% !important;margin-left: calc(-4% \/ 2 );margin-right: calc(-4% \/ 2 );\"><div class=\"fusion-layout-column fusion_builder_column_inner fusion-builder-nested-column-0 fusion_builder_column_inner_1_2 1_2 fusion-flex-column\"><div class=\"fusion-column-wrapper fusion-flex-justify-content-flex-start fusion-content-layout-column\" style=\"background-position:left top;background-repeat:no-repeat;-webkit-background-size:cover;-moz-background-size:cover;-o-background-size:cover;background-size:cover;padding: 0px 0px 0px 0px;\"><div class=\"fusion-text fusion-text-2\" style=\"font-size:32px;color:var(--awb-color1);font-family:&quot;Manrope&quot;;font-weight:700;\"><p>MAYO DE 2025<\/p>\n<\/div><\/div><style type=\"text\/css\">.fusion-body .fusion-builder-nested-column-0{width:50% !important;margin-top : 20px;margin-bottom : 20px;}.fusion-builder-nested-column-0 > .fusion-column-wrapper {padding-top : 0px !important;padding-right : 0px !important;margin-right : 3.84%;padding-bottom : 0px !important;padding-left : 0px !important;margin-left : 3.84%;}@media only screen and (max-width:1024px) {.fusion-body .fusion-builder-nested-column-0{width:50% !important;order : 0;}.fusion-builder-nested-column-0 > .fusion-column-wrapper {margin-right : 3.84%;margin-left : 3.84%;}}@media only screen and (max-width:640px) {.fusion-body .fusion-builder-nested-column-0{width:100% !important;order : 0;}.fusion-builder-nested-column-0 > .fusion-column-wrapper {margin-right : 1.92%;margin-left : 1.92%;}}<\/style><\/div><div class=\"fusion-layout-column fusion_builder_column_inner fusion-builder-nested-column-1 fusion_builder_column_inner_1_2 1_2 fusion-flex-column\"><div class=\"fusion-column-wrapper fusion-flex-justify-content-flex-start fusion-content-layout-column\" style=\"background-position:left top;background-repeat:no-repeat;-webkit-background-size:cover;-moz-background-size:cover;-o-background-size:cover;background-size:cover;padding: 0px 0px 0px 0px;\"><div style=\"text-align:right;\"><style>.fusion-body .fusion-button.button-1{border-radius:10px 10px 10px 10px;}<\/style><a class=\"fusion-button button-flat button-xlarge button-default button-1 fusion-button-default-span fusion-button-default-type\" target=\"_self\" href=\"https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/CVI-2025.pdf\"><span class=\"fusion-button-text\">DESCARGAR INFORME<\/span><\/a><\/div><\/div><style type=\"text\/css\">.fusion-body .fusion-builder-nested-column-1{width:50% !important;margin-top : 20px;margin-bottom : 20px;}.fusion-builder-nested-column-1 > .fusion-column-wrapper {padding-top : 0px !important;padding-right : 0px !important;margin-right : 3.84%;padding-bottom : 0px !important;padding-left : 0px !important;margin-left : 3.84%;}@media only screen and (max-width:1024px) {.fusion-body .fusion-builder-nested-column-1{width:50% !important;order : 0;}.fusion-builder-nested-column-1 > .fusion-column-wrapper {margin-right : 3.84%;margin-left : 3.84%;}}@media only screen and (max-width:640px) {.fusion-body .fusion-builder-nested-column-1{width:100% !important;order : 0;}.fusion-builder-nested-column-1 > .fusion-column-wrapper {margin-right : 1.92%;margin-left : 1.92%;}}<\/style><\/div><\/div><\/div><style type=\"text\/css\">.fusion-body .fusion-builder-column-1{width:100% !important;margin-top : 20px;margin-bottom : 20px;}.fusion-builder-column-1 > .fusion-column-wrapper {padding-top : 0px !important;padding-right : 25px !important;margin-right : 1.92%;padding-bottom : 0px !important;padding-left : 25px !important;margin-left : 1.92%;}@media only screen and (max-width:1024px) {.fusion-body .fusion-builder-column-1{width:100% !important;order : 0;}.fusion-builder-column-1 > .fusion-column-wrapper {margin-right : 1.92%;margin-left : 1.92%;}}@media only screen and (max-width:640px) {.fusion-body .fusion-builder-column-1{width:100% !important;order : 0;}.fusion-builder-column-1 > .fusion-column-wrapper {margin-right : 1.92%;margin-left : 1.92%;}}<\/style><\/div><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-2 fusion_builder_column_1_1 1_1 fusion-flex-column\"><div class=\"fusion-column-wrapper fusion-flex-justify-content-flex-start fusion-content-layout-column\" style=\"background-position:left top;background-repeat:no-repeat;-webkit-background-size:cover;-moz-background-size:cover;-o-background-size:cover;background-size:cover;padding: 0px 0px 0px 0px;\"><div class=\"fusion-text fusion-text-3\"><p><strong>Fecha de publicaci\u00f3n: 10 de junio de 2025<\/strong><\/p>\n<\/div><\/div><style type=\"text\/css\">.fusion-body .fusion-builder-column-2{width:100% !important;margin-top : 20px;margin-bottom : 20px;}.fusion-builder-column-2 > .fusion-column-wrapper {padding-top : 0px !important;padding-right : 0px !important;margin-right : 1.92%;padding-bottom : 0px !important;padding-left : 0px !important;margin-left : 1.92%;}@media only screen and (max-width:1024px) {.fusion-body .fusion-builder-column-2{width:100% !important;order : 0;}.fusion-builder-column-2 > .fusion-column-wrapper {margin-right : 1.92%;margin-left : 1.92%;}}@media only screen and (max-width:640px) {.fusion-body .fusion-builder-column-2{width:100% !important;order : 0;}.fusion-builder-column-2 > .fusion-column-wrapper {margin-right : 1.92%;margin-left : 1.92%;}}<\/style><\/div><\/div><style type=\"text\/css\">.fusion-body .fusion-flex-container.fusion-builder-row-1{ padding-top : 0px;margin-top : 0px;padding-right : 0px;padding-bottom : 0px;margin-bottom : 0px;padding-left : 0px;}<\/style><\/div><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-2 fusion-flex-container has-pattern-background has-mask-background nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"background-color: rgba(255,255,255,0);background-position: center center;background-repeat: no-repeat;border-width: 0px 0px 0px 0px;border-color:hsla(var(--awb-color8-h),var(--awb-color8-s),var(--awb-color8-l),calc( var(--awb-color8-a) - 92% ));border-style:solid;\" ><div class=\"fusion-builder-row fusion-row fusion-flex-align-items-flex-start\" style=\"max-width:1248px;margin-left: calc(-4% \/ 2 );margin-right: calc(-4% \/ 2 );\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-3 fusion_builder_column_1_1 1_1 fusion-flex-column\"><div class=\"fusion-column-wrapper fusion-flex-justify-content-flex-start fusion-content-layout-column\" style=\"background-position:left top;background-repeat:no-repeat;-webkit-background-size:cover;-moz-background-size:cover;-o-background-size:cover;background-size:cover;padding: 0px 0px 0px 0px;\"><div class=\"fusion-text fusion-text-4\"><h1 class=\"fusion-responsive-typography-calculated\" data-fontsize=\"60\" data-lineheight=\"69.6px\"><strong>Junio: Desaceleraci\u00f3n econ\u00f3mica y riesgos de recesi\u00f3n<\/strong><\/h1>\n<div class=\"page\" title=\"Page 1\">\n<div class=\"section\">\n<div class=\"layoutArea\">\n<div class=\"column\">\n<p style=\"font-weight: 400;\">La econom\u00eda venezolana lleva varios meses mostrando una desaceleraci\u00f3n en su ritmo de crecimiento. La recuperaci\u00f3n inicial, impulsada por el efecto rebote post-pandemia a partir del segundo trimestre de 2021 y un modesto aumento en la producci\u00f3n petrolera, encontr\u00f3 un mayor respiro con la licencia a Chevron a finales de 2022. Sin embargo, este impulso se agot\u00f3 a principios del cuarto trimestre de 2024, a medida que las expectativas de expansi\u00f3n de Chevron alcanzaron su l\u00edmite. Desde entonces, la econom\u00eda ha entrado en un contexto de mayor volatilidad cambiaria, incertidumbre y expectativas negativas, exacerbado por el malestar pol\u00edtico y el descontento social surgido tras las elecciones del 28 de julio.<\/p>\n<p style=\"font-weight: 400;\">Este escenario adverso se agudiza con la reimposici\u00f3n de sanciones petroleras por parte del gobierno de EE. UU., resultado de la percibida falta de transparencia democr\u00e1tica en las pasadas elecciones presidenciales. Las presiones generadas por la guerra comercial global y la ralentizaci\u00f3n de los precios del petr\u00f3leo profundizan a\u00fan m\u00e1s la crisis. La combinaci\u00f3n de problemas internos y factores externos ha provocado una importante disminuci\u00f3n de los ingresos petroleros, lo que se traduce directamente en menos divisas en el mercado cambiario, una menor sostenibilidad del poder de compra de los salarios en bol\u00edvares, una reducci\u00f3n del consumo y, en consecuencia, una calidad de vida a\u00fan m\u00e1s deteriorada. Para este segundo trimestre de 2025, las estimaciones sugieren una ca\u00edda del 2.5% en la actividad econ\u00f3mica.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div><\/div><style type=\"text\/css\">.fusion-body .fusion-builder-column-3{width:100% !important;margin-top : 20px;margin-bottom : 20px;}.fusion-builder-column-3 > .fusion-column-wrapper {padding-top : 0px !important;padding-right : 0px !important;margin-right : 1.92%;padding-bottom : 0px !important;padding-left : 0px !important;margin-left : 1.92%;}@media only screen and (max-width:1024px) {.fusion-body .fusion-builder-column-3{width:100% !important;order : 0;}.fusion-builder-column-3 > .fusion-column-wrapper {margin-right : 1.92%;margin-left : 1.92%;}}@media only screen and (max-width:640px) {.fusion-body .fusion-builder-column-3{width:100% !important;order : 0;}.fusion-builder-column-3 > .fusion-column-wrapper {margin-right : 1.92%;margin-left : 1.92%;}}<\/style><\/div><\/div><style type=\"text\/css\">.fusion-body .fusion-flex-container.fusion-builder-row-2{ padding-top : 0px;margin-top : 0px;padding-right : 0px;padding-bottom : 0px;margin-bottom : 0px;padding-left : 0px;}<\/style><\/div><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-3 fusion-flex-container has-pattern-background has-mask-background nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"background-color: rgba(255,255,255,0);background-position: center center;background-repeat: no-repeat;border-width: 0px 0px 0px 0px;border-color:hsla(var(--awb-color8-h),var(--awb-color8-s),var(--awb-color8-l),calc( var(--awb-color8-a) - 92% ));border-style:solid;\" ><div class=\"fusion-builder-row fusion-row fusion-flex-align-items-flex-start\" style=\"max-width:1248px;margin-left: calc(-4% \/ 2 );margin-right: calc(-4% \/ 2 );\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-4 fusion_builder_column_1_1 1_1 fusion-flex-column\"><div class=\"fusion-column-wrapper fusion-flex-justify-content-flex-start fusion-content-layout-column\" style=\"background-position:left top;background-repeat:no-repeat;-webkit-background-size:cover;-moz-background-size:cover;-o-background-size:cover;background-size:cover;padding: 0px 0px 0px 0px;\"><div class=\"fusion-text fusion-text-5\"><h2 class=\"fusion-responsive-typography-calculated\" data-fontsize=\"43\" data-lineheight=\"60.2px\">1. Inflaci\u00f3n mensual e interanual<\/h2>\n<p style=\"font-weight: 400;\">En mayo de 2025, Venezuela registr\u00f3 una tasa de inflaci\u00f3n del 22.5%, convirti\u00e9ndose en el segundo mes con el nivel m\u00e1s alto en lo que va de a\u00f1o, solo superado por el 28% de marzo. Este incremento de precios en bol\u00edvares es resultado directo de las dificultades para acceder a d\u00f3lares oficiales y la volatilidad generada por la brecha cambiaria.<\/p>\n<p style=\"font-weight: 400;\">La inflaci\u00f3n interanual se ubic\u00f3 en un alarmante 238%, alcanzando su nivel m\u00e1s alto en los \u00faltimos 18 meses y evidenciando una abrupta aceleraci\u00f3n desde septiembre de 2024, mes que marc\u00f3 un punto de inflexi\u00f3n al revertir la tendencia descendente. En los primeros cinco meses de 2025, la inflaci\u00f3n acumulada ya alcanza el 103%.<\/p>\n<p style=\"font-weight: 400;\">Analizando por rubros, los alimentos (24.2%) y los restaurantes (23.9%) registraron las mayores variaciones mensuales. Les siguieron los servicios en general (23.4%) y los productos de perfumer\u00eda y cuidado personal (22.3%). Recreaci\u00f3n y esparcimiento mostr\u00f3 un 19.9%, mientras que los servicios de transporte tuvieron la menor variaci\u00f3n con un 9.8%.<\/p>\n<p style=\"font-weight: 400;\">Geogr\u00e1ficamente, Maracaibo fue la ciudad con la mayor inflaci\u00f3n (27%), seguida por Caracas (23.3%) y Valencia (16.9%).<\/p>\n<h3 class=\"fusion-responsive-typography-calculated\" style=\"text-align: center;\" data-fontsize=\"28\" data-lineheight=\"36.4px\"><strong>Gr\u00e1fico N\u00b01<\/strong>: Inflaci\u00f3n mensual e interanual<\/h3>\n<div class=\"page\" title=\"Page 1\">\n<div class=\"section\">\n<div class=\"layoutArea\">\n<div class=\"column\">\n<p style=\"text-align: center;\">Fuente: Cedice<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div><div style=\"text-align:center;\"><span class=\" fusion-imageframe imageframe-none imageframe-1 hover-type-none\" style=\"border-radius:8px;\"><img decoding=\"async\" width=\"596\" height=\"383\" title=\"Captura de pantalla 2025-06-11 a las 10.27.07\" src=\"https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.27.07.png\" data-orig-src=\"https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.27.07.png\" alt class=\"lazyload img-responsive wp-image-6898\" srcset=\"data:image\/svg+xml,%3Csvg%20xmlns%3D%27http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%27%20width%3D%27596%27%20height%3D%27383%27%20viewBox%3D%270%200%20596%20383%27%3E%3Crect%20width%3D%27596%27%20height%3D%27383%27%20fill-opacity%3D%220%22%2F%3E%3C%2Fsvg%3E\" data-srcset=\"https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.27.07-200x129.png 200w, https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.27.07-400x257.png 400w, https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.27.07.png 596w\" data-sizes=\"auto\" data-orig-sizes=\"(max-width: 640px) 100vw, 596px\" \/><\/span><\/div><\/div><style type=\"text\/css\">.fusion-body .fusion-builder-column-4{width:100% !important;margin-top : 20px;margin-bottom : 20px;}.fusion-builder-column-4 > .fusion-column-wrapper {padding-top : 0px !important;padding-right : 0px !important;margin-right : 1.92%;padding-bottom : 0px !important;padding-left : 0px !important;margin-left : 1.92%;}@media only screen and (max-width:1024px) {.fusion-body .fusion-builder-column-4{width:100% !important;order : 0;}.fusion-builder-column-4 > .fusion-column-wrapper {margin-right : 1.92%;margin-left : 1.92%;}}@media only screen and (max-width:640px) {.fusion-body .fusion-builder-column-4{width:100% !important;order : 0;}.fusion-builder-column-4 > .fusion-column-wrapper {margin-right : 1.92%;margin-left : 1.92%;}}<\/style><\/div><\/div><style type=\"text\/css\">.fusion-body .fusion-flex-container.fusion-builder-row-3{ padding-top : 0px;margin-top : 0px;padding-right : 0px;padding-bottom : 0px;margin-bottom : 0px;padding-left : 0px;}<\/style><\/div><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-4 fusion-flex-container has-pattern-background has-mask-background nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"background-color: rgba(255,255,255,0);background-position: center center;background-repeat: no-repeat;border-width: 0px 0px 0px 0px;border-color:hsla(var(--awb-color8-h),var(--awb-color8-s),var(--awb-color8-l),calc( var(--awb-color8-a) - 92% ));border-style:solid;\" ><div class=\"fusion-builder-row fusion-row fusion-flex-align-items-flex-start\" style=\"max-width:1248px;margin-left: calc(-4% \/ 2 );margin-right: calc(-4% \/ 2 );\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-5 fusion_builder_column_1_1 1_1 fusion-flex-column\"><div class=\"fusion-column-wrapper fusion-flex-justify-content-flex-start fusion-content-layout-column\" style=\"background-position:left top;background-repeat:no-repeat;-webkit-background-size:cover;-moz-background-size:cover;-o-background-size:cover;background-size:cover;padding: 0px 0px 0px 0px;\"><div class=\"fusion-text fusion-text-6\"><h3 class=\"fusion-responsive-typography-calculated\" data-fontsize=\"43\" data-lineheight=\"60.2px\">2. Recaudaci\u00f3n fiscal real<\/h3>\n<div class=\"page\" title=\"Page 2\">\n<div class=\"section\">\n<div class=\"layoutArea\">\n<div class=\"column\">\n<p style=\"font-weight: 400;\">La recaudaci\u00f3n fiscal real en Venezuela contin\u00faa su tendencia negativa interanual, registrando una contracci\u00f3n del 39% en mayo de 2025. Mayo marca el tercer mes consecutivo con variaciones negativas, un comportamiento no visto desde principios de 2021. Esta persistente ca\u00edda es una clara repercusi\u00f3n de la volatilidad cambiaria y su impacto en la inflaci\u00f3n.<\/p>\n<p style=\"font-weight: 400;\">Aunque el Servicio Nacional Integrado de Administraci\u00f3n Aduanera y Tributaria (Seniat) no public\u00f3 el desglose de los componentes de la recaudaci\u00f3n para mayo, las tendencias observadas en meses anteriores sugieren que el Impuesto sobre la Renta (ISLR) y el Impuesto al Valor Agregado (IVA) experimentaron contracciones interanuales significativas, estimadas entre el 38% y el 42%. Este comportamiento es coherente con la posibilidad de un per\u00edodo recesivo de la actividad econ\u00f3mica durante este segundo trimestre de 2025.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<h4 class=\"fusion-responsive-typography-calculated\" style=\"text-align: center;\" data-fontsize=\"28\" data-lineheight=\"36.4px\"><strong>Gr\u00e1fico N\u00b02: <\/strong><span lang=\"ES-VE\">Recaudaci\u00f3n en Bs y variaci\u00f3n interanual<\/span><\/h4>\n<div class=\"page\" title=\"Page 2\">\n<div class=\"section\">\n<div class=\"layoutArea\">\n<div class=\"column\">\n<p style=\"text-align: center;\">Fuente: Seniat y Albusdata<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div><div style=\"text-align:center;\"><span class=\" fusion-imageframe imageframe-none imageframe-2 hover-type-none\" style=\"border-radius:8px;\"><img decoding=\"async\" width=\"646\" height=\"390\" title=\"Captura de pantalla 2025-06-11 a las 10.27.12\" src=\"https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.27.12.png\" data-orig-src=\"https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.27.12.png\" alt class=\"lazyload img-responsive wp-image-6900\" srcset=\"data:image\/svg+xml,%3Csvg%20xmlns%3D%27http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%27%20width%3D%27646%27%20height%3D%27390%27%20viewBox%3D%270%200%20646%20390%27%3E%3Crect%20width%3D%27646%27%20height%3D%27390%27%20fill-opacity%3D%220%22%2F%3E%3C%2Fsvg%3E\" data-srcset=\"https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.27.12-200x121.png 200w, https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.27.12-400x241.png 400w, https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.27.12-600x362.png 600w, https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.27.12.png 646w\" data-sizes=\"auto\" data-orig-sizes=\"(max-width: 640px) 100vw, 646px\" \/><\/span><\/div><\/div><style type=\"text\/css\">.fusion-body .fusion-builder-column-5{width:100% !important;margin-top : 20px;margin-bottom : 20px;}.fusion-builder-column-5 > .fusion-column-wrapper {padding-top : 0px !important;padding-right : 0px !important;margin-right : 1.92%;padding-bottom : 0px !important;padding-left : 0px !important;margin-left : 1.92%;}@media only screen and (max-width:1024px) {.fusion-body .fusion-builder-column-5{width:100% !important;order : 0;}.fusion-builder-column-5 > .fusion-column-wrapper {margin-right : 1.92%;margin-left : 1.92%;}}@media only screen and (max-width:640px) {.fusion-body .fusion-builder-column-5{width:100% !important;order : 0;}.fusion-builder-column-5 > .fusion-column-wrapper {margin-right : 1.92%;margin-left : 1.92%;}}<\/style><\/div><\/div><style type=\"text\/css\">.fusion-body .fusion-flex-container.fusion-builder-row-4{ padding-top : 0px;margin-top : 0px;padding-right : 0px;padding-bottom : 0px;margin-bottom : 0px;padding-left : 0px;}<\/style><\/div><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-5 fusion-flex-container has-pattern-background has-mask-background nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"background-color: rgba(255,255,255,0);background-position: center center;background-repeat: no-repeat;border-width: 0px 0px 0px 0px;border-color:hsla(var(--awb-color8-h),var(--awb-color8-s),var(--awb-color8-l),calc( var(--awb-color8-a) - 92% ));border-style:solid;\" ><div class=\"fusion-builder-row fusion-row fusion-flex-align-items-flex-start\" style=\"max-width:1248px;margin-left: calc(-4% \/ 2 );margin-right: calc(-4% \/ 2 );\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-6 fusion_builder_column_1_1 1_1 fusion-flex-column\"><div class=\"fusion-column-wrapper fusion-flex-justify-content-flex-start fusion-content-layout-column\" style=\"background-position:left top;background-repeat:no-repeat;-webkit-background-size:cover;-moz-background-size:cover;-o-background-size:cover;background-size:cover;padding: 0px 0px 0px 0px;\"><div class=\"fusion-text fusion-text-7\"><h2 class=\"fusion-responsive-typography-calculated\" data-fontsize=\"43\" data-lineheight=\"60.2px\">3. <strong>Recaudaci\u00f3n Fiscal llevada a d\u00f3lares<\/strong><\/h2>\n<div class=\"page\" title=\"Page 2\">\n<div class=\"section\">\n<div class=\"layoutArea\">\n<div class=\"column\">\n<p style=\"font-weight: 400;\">La recaudaci\u00f3n fiscal convertida a d\u00f3lares se ubic\u00f3 en US$ 637 millones durante mayo, lo que representa un crecimiento del 7% con respecto al mes anterior. Sin embargo, al analizar la situaci\u00f3n interanual, se observa una significativa contracci\u00f3n del 40% en comparaci\u00f3n con mayo de 2024, cuando la recaudaci\u00f3n alcanz\u00f3 los US$ 1.063 millones.<\/p>\n<p style=\"font-weight: 400;\">En cuanto a los aportes por tributo, el IVA lider\u00f3 la recaudaci\u00f3n total con US$ 235 millones, aunque este fue su aporte m\u00e1s bajo en lo que va de a\u00f1o. El ISLR contribuy\u00f3 con US$ 192,1 millones, mientras que la renta aduanera sum\u00f3 US$ 139 millones. Otras rentas internas, que incluyen impuestos por cigarrillos, licores, sucesiones, multas e intereses, aportaron un total de US$ 70 millones.<\/p>\n<p style=\"font-weight: 400;\">Dada la estructura econ\u00f3mica del pa\u00eds, su dependencia de la industria petrolera, el contexto pol\u00edtico interno y los choques de precios externos junto con las sanciones, es previsible que la recaudaci\u00f3n fiscal contin\u00fae decreciendo en los pr\u00f3ximos meses.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<h3 class=\"fusion-responsive-typography-calculated\" style=\"text-align: center;\" data-fontsize=\"28\" data-lineheight=\"36.4px\"><strong>Gr\u00e1fico N\u00b03:<\/strong>\u00a0Recaudaci\u00f3n Fiscal en d\u00f3lares<\/h3>\n<p style=\"text-align: center;\">Fuente: <span lang=\"ES-VE\">Ministerio de Finanzas y Seniat<\/span><\/p>\n<\/div><div style=\"text-align:center;\"><span class=\" fusion-imageframe imageframe-none imageframe-3 hover-type-none\" style=\"border-radius:8px;\"><img decoding=\"async\" width=\"622\" height=\"379\" title=\"Captura de pantalla 2025-06-11 a las 10.27.18\" src=\"https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.27.18.png\" data-orig-src=\"https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.27.18.png\" alt class=\"lazyload img-responsive wp-image-6901\" srcset=\"data:image\/svg+xml,%3Csvg%20xmlns%3D%27http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%27%20width%3D%27622%27%20height%3D%27379%27%20viewBox%3D%270%200%20622%20379%27%3E%3Crect%20width%3D%27622%27%20height%3D%27379%27%20fill-opacity%3D%220%22%2F%3E%3C%2Fsvg%3E\" data-srcset=\"https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.27.18-200x122.png 200w, https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.27.18-400x244.png 400w, https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.27.18-600x366.png 600w, https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.27.18.png 622w\" data-sizes=\"auto\" data-orig-sizes=\"(max-width: 640px) 100vw, 622px\" \/><\/span><\/div><\/div><style type=\"text\/css\">.fusion-body .fusion-builder-column-6{width:100% !important;margin-top : 20px;margin-bottom : 20px;}.fusion-builder-column-6 > .fusion-column-wrapper {padding-top : 0px !important;padding-right : 0px !important;margin-right : 1.92%;padding-bottom : 0px !important;padding-left : 0px !important;margin-left : 1.92%;}@media only screen and (max-width:1024px) {.fusion-body .fusion-builder-column-6{width:100% !important;order : 0;}.fusion-builder-column-6 > .fusion-column-wrapper {margin-right : 1.92%;margin-left : 1.92%;}}@media only screen and (max-width:640px) {.fusion-body .fusion-builder-column-6{width:100% !important;order : 0;}.fusion-builder-column-6 > .fusion-column-wrapper {margin-right : 1.92%;margin-left : 1.92%;}}<\/style><\/div><\/div><style type=\"text\/css\">.fusion-body .fusion-flex-container.fusion-builder-row-5{ padding-top : 0px;margin-top : 0px;padding-right : 0px;padding-bottom : 0px;margin-bottom : 0px;padding-left : 0px;}<\/style><\/div><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-6 fusion-flex-container has-pattern-background has-mask-background nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"background-color: rgba(255,255,255,0);background-position: center center;background-repeat: no-repeat;border-width: 0px 0px 0px 0px;border-color:hsla(var(--awb-color8-h),var(--awb-color8-s),var(--awb-color8-l),calc( var(--awb-color8-a) - 92% ));border-style:solid;\" ><div class=\"fusion-builder-row fusion-row fusion-flex-align-items-flex-start\" style=\"max-width:1248px;margin-left: calc(-4% \/ 2 );margin-right: calc(-4% \/ 2 );\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-7 fusion_builder_column_1_1 1_1 fusion-flex-column\"><div class=\"fusion-column-wrapper fusion-flex-justify-content-flex-start fusion-content-layout-column\" style=\"background-position:left top;background-repeat:no-repeat;-webkit-background-size:cover;-moz-background-size:cover;-o-background-size:cover;background-size:cover;padding: 0px 0px 0px 0px;\"><div class=\"fusion-text fusion-text-8\"><h2 class=\"fusion-responsive-typography-calculated\" data-fontsize=\"43\" data-lineheight=\"60.2px\">4.\u00a0Tipo de cambio de mercado<\/h2>\n<div class=\"page\" title=\"Page 3\">\n<div class=\"section\">\n<div class=\"layoutArea\">\n<div class=\"column\">\n<p style=\"font-weight: 400;\">En mayo, la tasa de cambio de mercado cerr\u00f3 en Bs\/US$ 138,98, registrando una variaci\u00f3n mensual del 27,6%. Este incremento es el m\u00e1s alto desde finales de 2022, lo que subraya la significativa volatilidad en el mercado de divisas. A pesar de las medidas legales implementadas por las autoridades para contrarrestar lo que se argumenta como especulaci\u00f3n y desestabilizaci\u00f3n econ\u00f3mica, el mercado informal persiste. Su surgimiento es una consecuencia directa de la limitada oferta de d\u00f3lares en el mercado oficial.<\/p>\n<p style=\"font-weight: 400;\">Cuando los agentes econ\u00f3micos no logran adquirir divisas a trav\u00e9s del sistema bancario, se ven forzados a recurrir al mercado informal para satisfacer sus necesidades. Esta din\u00e1mica ha llevado a un incremento interanual del 245,9% en la tasa de cambio de mercado. El problema central reside en la escasez de oferta de divisas en el mercado oficial, pues la continua disminuci\u00f3n de los ingresos por exportaciones petroleras sigue causando estragos en la estabilidad cambiaria y de precios, dejando a los ciudadanos en una posici\u00f3n de vulnerabilidad en su calidad de vida.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<h3 class=\"fusion-responsive-typography-calculated\" style=\"text-align: center;\" data-fontsize=\"28\" data-lineheight=\"36.4px\"><strong>Gr\u00e1fico N\u00b04<\/strong>: Tipo de cambio de mercado (Bs\/$)<\/h3>\n<p style=\"text-align: center;\">Fuente: DolarToday<\/p>\n<\/div><div style=\"text-align:center;\"><span class=\" fusion-imageframe imageframe-none imageframe-4 hover-type-none\" style=\"border-radius:8px;\"><img decoding=\"async\" width=\"690\" height=\"381\" title=\"Captura de pantalla 2025-06-11 a las 10.27.23\" src=\"https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.27.23.png\" data-orig-src=\"https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.27.23.png\" alt class=\"lazyload img-responsive wp-image-6902\" srcset=\"data:image\/svg+xml,%3Csvg%20xmlns%3D%27http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%27%20width%3D%27690%27%20height%3D%27381%27%20viewBox%3D%270%200%20690%20381%27%3E%3Crect%20width%3D%27690%27%20height%3D%27381%27%20fill-opacity%3D%220%22%2F%3E%3C%2Fsvg%3E\" data-srcset=\"https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.27.23-200x110.png 200w, https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.27.23-400x221.png 400w, https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.27.23-600x331.png 600w, https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.27.23.png 690w\" data-sizes=\"auto\" data-orig-sizes=\"(max-width: 640px) 100vw, 690px\" \/><\/span><\/div><\/div><style type=\"text\/css\">.fusion-body .fusion-builder-column-7{width:100% !important;margin-top : 20px;margin-bottom : 20px;}.fusion-builder-column-7 > .fusion-column-wrapper {padding-top : 0px !important;padding-right : 0px !important;margin-right : 1.92%;padding-bottom : 0px !important;padding-left : 0px !important;margin-left : 1.92%;}@media only screen and (max-width:1024px) {.fusion-body .fusion-builder-column-7{width:100% !important;order : 0;}.fusion-builder-column-7 > .fusion-column-wrapper {margin-right : 1.92%;margin-left : 1.92%;}}@media only screen and (max-width:640px) {.fusion-body .fusion-builder-column-7{width:100% !important;order : 0;}.fusion-builder-column-7 > .fusion-column-wrapper {margin-right : 1.92%;margin-left : 1.92%;}}<\/style><\/div><\/div><style type=\"text\/css\">.fusion-body .fusion-flex-container.fusion-builder-row-6{ padding-top : 0px;margin-top : 0px;padding-right : 0px;padding-bottom : 0px;margin-bottom : 0px;padding-left : 0px;}<\/style><\/div><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-7 fusion-flex-container has-pattern-background has-mask-background nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"background-color: rgba(255,255,255,0);background-position: center center;background-repeat: no-repeat;border-width: 0px 0px 0px 0px;border-color:hsla(var(--awb-color8-h),var(--awb-color8-s),var(--awb-color8-l),calc( var(--awb-color8-a) - 92% ));border-style:solid;\" ><div class=\"fusion-builder-row fusion-row fusion-flex-align-items-flex-start\" style=\"max-width:1248px;margin-left: calc(-4% \/ 2 );margin-right: calc(-4% \/ 2 );\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-8 fusion_builder_column_1_1 1_1 fusion-flex-column\"><div class=\"fusion-column-wrapper fusion-flex-justify-content-flex-start fusion-content-layout-column\" style=\"background-position:left top;background-repeat:no-repeat;-webkit-background-size:cover;-moz-background-size:cover;-o-background-size:cover;background-size:cover;padding: 0px 0px 0px 0px;\"><div class=\"fusion-text fusion-text-9\"><h2 class=\"fusion-responsive-typography-calculated\" data-fontsize=\"43\" data-lineheight=\"60.2px\">5.\u00a0Tipo de cambio oficial<\/h2>\n<div class=\"page\" title=\"Page 3\">\n<div class=\"section\">\n<div class=\"layoutArea\">\n<div class=\"column\">\n<p style=\"font-weight: 400;\">La tasa de cambio oficial publicada por el Banco Central de Venezuela (BCV) se ubic\u00f3 en Bs\/US$ 96,86 en mayo, lo que representa una variaci\u00f3n mensual del 10,4%. En lo que va de 2025, este indicador ha mostrado un crecimiento significativo del 85%, partiendo de Bs\/US$ 51,93 en diciembre de 2024. Esta depreciaci\u00f3n abismal del bol\u00edvar es un claro reflejo de las profundas dificultades cambiarias que enfrenta el pa\u00eds.<\/p>\n<p style=\"font-weight: 400;\">El BCV no ha logrado disponer de suficientes divisas para abastecer el mercado, limitando cada vez m\u00e1s el acceso de los agentes econ\u00f3micos a d\u00f3lares a la tasa oficial y generando distorsiones que alimentan el mercado paralelo. Dada la fuerte dependencia de Venezuela de las exportaciones petroleras como principal fuente de divisas, que se ha fortalecido en las \u00faltimas d\u00e9cadas, el pa\u00eds continuar\u00e1 enfrentando escenarios de volatilidad cambiaria ante futuros choques externos si no se logra una diversificaci\u00f3n significativa de sus productos de exportaci\u00f3n.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<h3 class=\"fusion-responsive-typography-calculated\" style=\"text-align: center;\" data-fontsize=\"28\" data-lineheight=\"36.4px\"><strong>Gr\u00e1fico N\u00b05<\/strong>: Tipo de cambio oficial (Bs\/$)<\/h3>\n<p style=\"text-align: center;\">Fuente: BCV<\/p>\n<\/div><div style=\"text-align:center;\"><span class=\" fusion-imageframe imageframe-none imageframe-5 hover-type-none\" style=\"border-radius:8px;\"><img decoding=\"async\" width=\"675\" height=\"396\" title=\"Captura de pantalla 2025-06-11 a las 10.27.29\" src=\"https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.27.29.png\" data-orig-src=\"https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.27.29.png\" alt class=\"lazyload img-responsive wp-image-6903\" srcset=\"data:image\/svg+xml,%3Csvg%20xmlns%3D%27http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%27%20width%3D%27675%27%20height%3D%27396%27%20viewBox%3D%270%200%20675%20396%27%3E%3Crect%20width%3D%27675%27%20height%3D%27396%27%20fill-opacity%3D%220%22%2F%3E%3C%2Fsvg%3E\" data-srcset=\"https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.27.29-200x117.png 200w, https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.27.29-400x235.png 400w, https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.27.29-600x352.png 600w, https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.27.29.png 675w\" data-sizes=\"auto\" data-orig-sizes=\"(max-width: 640px) 100vw, 675px\" \/><\/span><\/div><\/div><style type=\"text\/css\">.fusion-body .fusion-builder-column-8{width:100% !important;margin-top : 20px;margin-bottom : 20px;}.fusion-builder-column-8 > .fusion-column-wrapper {padding-top : 0px !important;padding-right : 0px !important;margin-right : 1.92%;padding-bottom : 0px !important;padding-left : 0px !important;margin-left : 1.92%;}@media only screen and (max-width:1024px) {.fusion-body .fusion-builder-column-8{width:100% !important;order : 0;}.fusion-builder-column-8 > .fusion-column-wrapper {margin-right : 1.92%;margin-left : 1.92%;}}@media only screen and (max-width:640px) {.fusion-body .fusion-builder-column-8{width:100% !important;order : 0;}.fusion-builder-column-8 > .fusion-column-wrapper {margin-right : 1.92%;margin-left : 1.92%;}}<\/style><\/div><\/div><style type=\"text\/css\">.fusion-body .fusion-flex-container.fusion-builder-row-7{ padding-top : 0px;margin-top : 0px;padding-right : 0px;padding-bottom : 0px;margin-bottom : 0px;padding-left : 0px;}<\/style><\/div><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-8 fusion-flex-container has-pattern-background has-mask-background nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"background-color: rgba(255,255,255,0);background-position: center center;background-repeat: no-repeat;border-width: 0px 0px 0px 0px;border-color:hsla(var(--awb-color8-h),var(--awb-color8-s),var(--awb-color8-l),calc( var(--awb-color8-a) - 92% ));border-style:solid;\" ><div class=\"fusion-builder-row fusion-row fusion-flex-align-items-flex-start\" style=\"max-width:1248px;margin-left: calc(-4% \/ 2 );margin-right: calc(-4% \/ 2 );\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-9 fusion_builder_column_1_1 1_1 fusion-flex-column\"><div class=\"fusion-column-wrapper fusion-flex-justify-content-flex-start fusion-content-layout-column\" style=\"background-position:left top;background-repeat:no-repeat;-webkit-background-size:cover;-moz-background-size:cover;-o-background-size:cover;background-size:cover;padding: 0px 0px 0px 0px;\"><div class=\"fusion-text fusion-text-10\"><h2 class=\"fusion-responsive-typography-calculated\" data-fontsize=\"43\" data-lineheight=\"60.2px\">6.\u00a0La Brecha entre el tipo de cambio oficial y paralelo<\/h2>\n<div class=\"page\" title=\"Page 4\">\n<div class=\"section\">\n<div class=\"layoutArea\">\n<div class=\"column\">\n<p style=\"font-weight: 400;\">La brecha entre la tasa de cambio oficial y la de mercado alcanz\u00f3 un alarmante 48% a finales de mayo, el segundo nivel m\u00e1s alto registrado en los \u00faltimos a\u00f1os, solo superado por el 55% de finales de marzo. Esta diferencia exacerbada es una clara se\u00f1al de las limitaciones del mercado oficial de divisas. Los agentes econ\u00f3micos, buscando maximizar beneficios, tienen fuertes incentivos para adquirir d\u00f3lares a la tasa oficial, pero al no encontrar la oferta suficiente en las mesas de cambio bancarias, se ven forzados a recurrir al mercado paralelo, donde las cotizaciones son significativamente m\u00e1s elevadas. Esta din\u00e1mica es un reflejo natural de la presi\u00f3n de una demanda creciente sobre una oferta de divisas muy limitada, lo que impulsa a\u00fan m\u00e1s el alza de la tasa de cambio.<\/p>\n<p style=\"font-weight: 400;\">En contraste con econom\u00edas m\u00e1s diversificadas, donde los Bancos Centrales y las empresas exportadoras contribuyen a una oferta robusta de d\u00f3lares que estabiliza el tipo de cambio (e incluso permiten a los Bancos Centrales comprar divisas para evitar su ca\u00edda), Venezuela carece de esta din\u00e1mica. Esta ausencia agrava la situaci\u00f3n, perpetuando la volatilidad y las distorsiones en el mercado de divisas.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<h3 class=\"fusion-responsive-typography-calculated\" style=\"text-align: center;\" data-fontsize=\"28\" data-lineheight=\"36.4px\"><strong>Gr\u00e1fico N\u00b06<\/strong>: Brecha entre el tipo de cambio y el promedio paralelo<\/h3>\n<p style=\"text-align: center;\">Fuente: BCV<\/p>\n<\/div><div style=\"text-align:center;\"><span class=\" fusion-imageframe imageframe-none imageframe-6 hover-type-none\" style=\"border-radius:8px;\"><img decoding=\"async\" width=\"521\" height=\"348\" title=\"Captura de pantalla 2025-06-11 a las 10.27.34\" src=\"https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.27.34.png\" data-orig-src=\"https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.27.34.png\" alt class=\"lazyload img-responsive wp-image-6904\" srcset=\"data:image\/svg+xml,%3Csvg%20xmlns%3D%27http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%27%20width%3D%27521%27%20height%3D%27348%27%20viewBox%3D%270%200%20521%20348%27%3E%3Crect%20width%3D%27521%27%20height%3D%27348%27%20fill-opacity%3D%220%22%2F%3E%3C%2Fsvg%3E\" data-srcset=\"https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.27.34-200x134.png 200w, https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.27.34-400x267.png 400w, https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.27.34.png 521w\" data-sizes=\"auto\" data-orig-sizes=\"(max-width: 640px) 100vw, 521px\" \/><\/span><\/div><\/div><style type=\"text\/css\">.fusion-body .fusion-builder-column-9{width:100% !important;margin-top : 20px;margin-bottom : 20px;}.fusion-builder-column-9 > .fusion-column-wrapper {padding-top : 0px !important;padding-right : 0px !important;margin-right : 1.92%;padding-bottom : 0px !important;padding-left : 0px !important;margin-left : 1.92%;}@media only screen and (max-width:1024px) {.fusion-body .fusion-builder-column-9{width:100% !important;order : 0;}.fusion-builder-column-9 > .fusion-column-wrapper {margin-right : 1.92%;margin-left : 1.92%;}}@media only screen and (max-width:640px) {.fusion-body .fusion-builder-column-9{width:100% !important;order : 0;}.fusion-builder-column-9 > .fusion-column-wrapper {margin-right : 1.92%;margin-left : 1.92%;}}<\/style><\/div><\/div><style type=\"text\/css\">.fusion-body .fusion-flex-container.fusion-builder-row-8{ padding-top : 0px;margin-top : 0px;padding-right : 0px;padding-bottom : 0px;margin-bottom : 0px;padding-left : 0px;}<\/style><\/div><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-9 fusion-flex-container has-pattern-background has-mask-background nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"background-color: rgba(255,255,255,0);background-position: center center;background-repeat: no-repeat;border-width: 0px 0px 0px 0px;border-color:hsla(var(--awb-color8-h),var(--awb-color8-s),var(--awb-color8-l),calc( var(--awb-color8-a) - 92% ));border-style:solid;\" ><div class=\"fusion-builder-row fusion-row fusion-flex-align-items-flex-start\" style=\"max-width:1248px;margin-left: calc(-4% \/ 2 );margin-right: calc(-4% \/ 2 );\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-10 fusion_builder_column_1_1 1_1 fusion-flex-column\"><div class=\"fusion-column-wrapper fusion-flex-justify-content-flex-start fusion-content-layout-column\" style=\"background-position:left top;background-repeat:no-repeat;-webkit-background-size:cover;-moz-background-size:cover;-o-background-size:cover;background-size:cover;padding: 0px 0px 0px 0px;\"><div class=\"fusion-text fusion-text-11\"><h2 class=\"fusion-responsive-typography-calculated\" data-fontsize=\"43\" data-lineheight=\"60.2px\">7.\u00a0Reservas internacionales<\/h2>\n<div class=\"page\" title=\"Page 4\">\n<div class=\"section\">\n<div class=\"layoutArea\">\n<div class=\"column\">\n<p style=\"font-weight: 400;\">Las reservas internacionales de Venezuela cerraron mayo en US$ 10.846 millones, reflejando una leve variaci\u00f3n mensual negativa del 0.17% (equivalente a US$ 18 millones menos que en abril). No obstante, en lo que va de 2025, se ha observado una peque\u00f1a senda de recuperaci\u00f3n, sumando un total de US$ 580 millones adicionales desde diciembre de 2024.<\/p>\n<p style=\"font-weight: 400;\">Esta modesta recuperaci\u00f3n puede atribuirse, en parte, al aumento en la cotizaci\u00f3n del oro monetario, un activo que suele valorizarse en contextos de incertidumbre como el generado por la guerra comercial. Adem\u00e1s, es posible que la incorporaci\u00f3n de lingotes de oro producidos por el sector minero venezolano a las arcas del Banco Central de Venezuela (BCV) est\u00e9 contribuyendo a este saldo. Sin embargo, es crucial recordar que el Balance General del BCV incluye Derechos Especiales de Giro (DEG) asignados a Venezuela durante la pandemia que nunca fueron efectivamente entregados. Esto significa que, en t\u00e9rminos reales, las reservas internacionales se encuentran en niveles significativamente por debajo de lo que reporta el BCV.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<h3 class=\"fusion-responsive-typography-calculated\" style=\"text-align: center;\" data-fontsize=\"28\" data-lineheight=\"36.4px\"><strong>Gr\u00e1fico N\u00b07: <\/strong>Reservas internacionales<\/h3>\n<p style=\"text-align: center;\">Fuente: BCV<\/p>\n<\/div><div style=\"text-align:center;\"><span class=\" fusion-imageframe imageframe-none imageframe-7 hover-type-none\" style=\"border-radius:8px;\"><img decoding=\"async\" width=\"544\" height=\"416\" title=\"Captura de pantalla 2025-06-11 a las 10.27.40\" src=\"https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.27.40.png\" data-orig-src=\"https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.27.40.png\" alt class=\"lazyload img-responsive wp-image-6905\" srcset=\"data:image\/svg+xml,%3Csvg%20xmlns%3D%27http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%27%20width%3D%27544%27%20height%3D%27416%27%20viewBox%3D%270%200%20544%20416%27%3E%3Crect%20width%3D%27544%27%20height%3D%27416%27%20fill-opacity%3D%220%22%2F%3E%3C%2Fsvg%3E\" data-srcset=\"https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.27.40-200x153.png 200w, https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.27.40-400x306.png 400w, https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.27.40.png 544w\" data-sizes=\"auto\" data-orig-sizes=\"(max-width: 640px) 100vw, 544px\" \/><\/span><\/div><\/div><style type=\"text\/css\">.fusion-body .fusion-builder-column-10{width:100% !important;margin-top : 20px;margin-bottom : 20px;}.fusion-builder-column-10 > .fusion-column-wrapper {padding-top : 0px !important;padding-right : 0px !important;margin-right : 1.92%;padding-bottom : 0px !important;padding-left : 0px !important;margin-left : 1.92%;}@media only screen and (max-width:1024px) {.fusion-body .fusion-builder-column-10{width:100% !important;order : 0;}.fusion-builder-column-10 > .fusion-column-wrapper {margin-right : 1.92%;margin-left : 1.92%;}}@media only screen and (max-width:640px) {.fusion-body .fusion-builder-column-10{width:100% !important;order : 0;}.fusion-builder-column-10 > .fusion-column-wrapper {margin-right : 1.92%;margin-left : 1.92%;}}<\/style><\/div><\/div><style type=\"text\/css\">.fusion-body .fusion-flex-container.fusion-builder-row-9{ padding-top : 0px;margin-top : 0px;padding-right : 0px;padding-bottom : 0px;margin-bottom : 0px;padding-left : 0px;}<\/style><\/div><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-10 fusion-flex-container has-pattern-background has-mask-background nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"background-color: rgba(255,255,255,0);background-position: center center;background-repeat: no-repeat;border-width: 0px 0px 0px 0px;border-color:hsla(var(--awb-color8-h),var(--awb-color8-s),var(--awb-color8-l),calc( var(--awb-color8-a) - 92% ));border-style:solid;\" ><div class=\"fusion-builder-row fusion-row fusion-flex-align-items-flex-start\" style=\"max-width:1248px;margin-left: calc(-4% \/ 2 );margin-right: calc(-4% \/ 2 );\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-11 fusion_builder_column_1_1 1_1 fusion-flex-column\"><div class=\"fusion-column-wrapper fusion-flex-justify-content-flex-start fusion-content-layout-column\" style=\"background-position:left top;background-repeat:no-repeat;-webkit-background-size:cover;-moz-background-size:cover;-o-background-size:cover;background-size:cover;padding: 0px 0px 0px 0px;\"><div class=\"fusion-text fusion-text-12\"><h2 class=\"fusion-responsive-typography-calculated\" data-fontsize=\"43\" data-lineheight=\"60.2px\">8.\u00a0Liquidez y base monetaria<\/h2>\n<div class=\"page\" title=\"Page 5\">\n<div class=\"layoutArea\">\n<div class=\"column\">\n<p style=\"font-weight: 400;\">En mayo, la base monetaria en Venezuela experiment\u00f3 una expansi\u00f3n mensual del 6.8%, lo que sugiere una leve desaceleraci\u00f3n en su ritmo de crecimiento si se compara con el 11% y 21% registrados en marzo y abril, respectivamente. Aunque las dos primeras semanas de mayo vieron un crecimiento inicial (1.6%), seguido de una contracci\u00f3n (8.2%), las \u00faltimas semanas del mes mostraron un nuevo repunte del 9% y 7.5%. Al cierre de mayo, este indicador se situ\u00f3 en Bs 179.500 millones, con un crecimiento interanual del 211%.<\/p>\n<p style=\"font-weight: 400;\">Por su parte, la liquidez monetaria tambi\u00e9n mostr\u00f3 un crecimiento significativo del 11.6% mensual. Tras contracciones iniciales en las dos primeras semanas (0.1% y 4.2%), la liquidez se increment\u00f3 en las semanas siguientes (11.3% y 4.7%), influenciada notablemente por la expansi\u00f3n de la base monetaria. Al finalizar el mes, la liquidez monetaria se ubic\u00f3 en aproximadamente Bs 260.500 millones. Actualmente, la base monetaria (dinero creado por el BCV y la Tesorer\u00eda) representa el 69% de la liquidez total. Este porcentaje es superior al de per\u00edodos anteriores (menos del 60%), lo que indica una priorizaci\u00f3n en la creaci\u00f3n de dinero por parte del Estado en detrimento del dinero generado por la banca a trav\u00e9s del cr\u00e9dito.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<h3 class=\"fusion-responsive-typography-calculated\" style=\"text-align: center;\" data-fontsize=\"28\" data-lineheight=\"36.4px\"><strong>Gr\u00e1fico N\u00b08: Variaci\u00f3n semanal de la liquidez y base monetaria<\/strong><\/h3>\n<p style=\"text-align: center;\">Fuente: BCV<\/p>\n<\/div><div style=\"text-align:center;\"><span class=\" fusion-imageframe imageframe-none imageframe-8 hover-type-none\" style=\"border-radius:8px;\"><img decoding=\"async\" width=\"735\" height=\"386\" title=\"Captura de pantalla 2025-06-11 a las 10.27.45\" src=\"https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.27.45.png\" data-orig-src=\"https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.27.45.png\" alt class=\"lazyload img-responsive wp-image-6906\" srcset=\"data:image\/svg+xml,%3Csvg%20xmlns%3D%27http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%27%20width%3D%27735%27%20height%3D%27386%27%20viewBox%3D%270%200%20735%20386%27%3E%3Crect%20width%3D%27735%27%20height%3D%27386%27%20fill-opacity%3D%220%22%2F%3E%3C%2Fsvg%3E\" data-srcset=\"https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.27.45-200x105.png 200w, https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.27.45-400x210.png 400w, https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.27.45-600x315.png 600w, https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.27.45.png 735w\" data-sizes=\"auto\" data-orig-sizes=\"(max-width: 640px) 100vw, 735px\" \/><\/span><\/div><\/div><style type=\"text\/css\">.fusion-body .fusion-builder-column-11{width:100% !important;margin-top : 20px;margin-bottom : 20px;}.fusion-builder-column-11 > .fusion-column-wrapper {padding-top : 0px !important;padding-right : 0px !important;margin-right : 1.92%;padding-bottom : 0px !important;padding-left : 0px !important;margin-left : 1.92%;}@media only screen and (max-width:1024px) {.fusion-body .fusion-builder-column-11{width:100% !important;order : 0;}.fusion-builder-column-11 > .fusion-column-wrapper {margin-right : 1.92%;margin-left : 1.92%;}}@media only screen and (max-width:640px) {.fusion-body .fusion-builder-column-11{width:100% !important;order : 0;}.fusion-builder-column-11 > .fusion-column-wrapper {margin-right : 1.92%;margin-left : 1.92%;}}<\/style><\/div><\/div><style type=\"text\/css\">.fusion-body .fusion-flex-container.fusion-builder-row-10{ padding-top : 0px;margin-top : 0px;padding-right : 0px;padding-bottom : 0px;margin-bottom : 0px;padding-left : 0px;}<\/style><\/div><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-11 fusion-flex-container has-pattern-background has-mask-background nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"background-color: rgba(255,255,255,0);background-position: center center;background-repeat: no-repeat;border-width: 0px 0px 0px 0px;border-color:hsla(var(--awb-color8-h),var(--awb-color8-s),var(--awb-color8-l),calc( var(--awb-color8-a) - 92% ));border-style:solid;\" ><div class=\"fusion-builder-row fusion-row fusion-flex-align-items-flex-start\" style=\"max-width:1248px;margin-left: calc(-4% \/ 2 );margin-right: calc(-4% \/ 2 );\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-12 fusion_builder_column_1_1 1_1 fusion-flex-column\"><div class=\"fusion-column-wrapper fusion-flex-justify-content-flex-start fusion-content-layout-column\" style=\"background-position:left top;background-repeat:no-repeat;-webkit-background-size:cover;-moz-background-size:cover;-o-background-size:cover;background-size:cover;padding: 0px 0px 0px 0px;\"><div class=\"fusion-text fusion-text-13\"><h2 class=\"fusion-responsive-typography-calculated\" data-fontsize=\"43\" data-lineheight=\"60.2px\"><strong>9. <\/strong><strong>Exportaciones e Importaciones a EEUU<\/strong><\/h2>\n<div class=\"page\" title=\"Page 5\">\n<div class=\"layoutArea\">\n<div class=\"column\">\n<p style=\"font-weight: 400;\">En lo que va de 2025, Venezuela ha exportado bienes y servicios a Estados Unidos por un total de US$ 1.625 millones, cifra que refleja principalmente las exportaciones petroleras del primer trimestre. Durante el mismo per\u00edodo, las importaciones desde EE. UU. hacia Venezuela alcanzaron los US$ 1.057 millones. Este intercambio comercial acumulado gener\u00f3 una balanza superavitaria de US$ 568 millones a favor de Venezuela.<\/p>\n<p style=\"font-weight: 400;\">Es importante recordar que, entre 2019 y finales de 2022, durante el periodo m\u00e1s riguroso de las sanciones econ\u00f3micas, Venezuela registr\u00f3 por primera vez una balanza comercial deficitaria con Estados Unidos. Tras la flexibilizaci\u00f3n de estas sanciones, se retom\u00f3 el comportamiento superavitario. Sin embargo, en el contexto actual, con la salida de Chevron de Venezuela, es probable que el pa\u00eds retorne a un escenario comercial deficitario con Estados Unidos.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<h3 class=\"fusion-responsive-typography-calculated\" style=\"text-align: center;\" data-fontsize=\"28\" data-lineheight=\"36.4px\"><strong>Gr\u00e1fico N\u00b09: <\/strong><span lang=\"ES-VE\">Exportaciones e Importaciones a EEUU<\/span><\/h3>\n<p style=\"text-align: center;\">Fuente: <span lang=\"ES-VE\">US Census Bureau.<\/span><\/p>\n<\/div><div style=\"text-align:center;\"><span class=\" fusion-imageframe imageframe-none imageframe-9 hover-type-none\" style=\"border-radius:8px;\"><img decoding=\"async\" width=\"508\" height=\"307\" title=\"Captura de pantalla 2025-06-11 a las 10.27.50\" src=\"https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.27.50.png\" data-orig-src=\"https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.27.50.png\" alt class=\"lazyload img-responsive wp-image-6907\" srcset=\"data:image\/svg+xml,%3Csvg%20xmlns%3D%27http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%27%20width%3D%27508%27%20height%3D%27307%27%20viewBox%3D%270%200%20508%20307%27%3E%3Crect%20width%3D%27508%27%20height%3D%27307%27%20fill-opacity%3D%220%22%2F%3E%3C%2Fsvg%3E\" data-srcset=\"https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.27.50-200x121.png 200w, https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.27.50-400x242.png 400w, https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.27.50.png 508w\" data-sizes=\"auto\" data-orig-sizes=\"(max-width: 640px) 100vw, 508px\" \/><\/span><\/div><\/div><style type=\"text\/css\">.fusion-body .fusion-builder-column-12{width:100% !important;margin-top : 20px;margin-bottom : 20px;}.fusion-builder-column-12 > .fusion-column-wrapper {padding-top : 0px !important;padding-right : 0px !important;margin-right : 1.92%;padding-bottom : 0px !important;padding-left : 0px !important;margin-left : 1.92%;}@media only screen and (max-width:1024px) {.fusion-body .fusion-builder-column-12{width:100% !important;order : 0;}.fusion-builder-column-12 > .fusion-column-wrapper {margin-right : 1.92%;margin-left : 1.92%;}}@media only screen and (max-width:640px) {.fusion-body .fusion-builder-column-12{width:100% !important;order : 0;}.fusion-builder-column-12 > .fusion-column-wrapper {margin-right : 1.92%;margin-left : 1.92%;}}<\/style><\/div><\/div><style type=\"text\/css\">.fusion-body .fusion-flex-container.fusion-builder-row-11{ padding-top : 0px;margin-top : 0px;padding-right : 0px;padding-bottom : 0px;margin-bottom : 0px;padding-left : 0px;}<\/style><\/div><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-12 fusion-flex-container has-pattern-background has-mask-background nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"background-color: rgba(255,255,255,0);background-position: center center;background-repeat: no-repeat;border-width: 0px 0px 0px 0px;border-color:hsla(var(--awb-color8-h),var(--awb-color8-s),var(--awb-color8-l),calc( var(--awb-color8-a) - 92% ));border-style:solid;\" ><div class=\"fusion-builder-row fusion-row fusion-flex-align-items-flex-start\" style=\"max-width:1248px;margin-left: calc(-4% \/ 2 );margin-right: calc(-4% \/ 2 );\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-13 fusion_builder_column_1_1 1_1 fusion-flex-column\"><div class=\"fusion-column-wrapper fusion-flex-justify-content-flex-start fusion-content-layout-column\" style=\"background-position:left top;background-repeat:no-repeat;-webkit-background-size:cover;-moz-background-size:cover;-o-background-size:cover;background-size:cover;padding: 0px 0px 0px 0px;\"><div class=\"fusion-text fusion-text-14\"><h2 class=\"fusion-responsive-typography-calculated\" data-fontsize=\"43\" data-lineheight=\"60.2px\"><strong>10.\u00a0<\/strong><strong>Producci\u00f3n petrolera venezolana (mbd)<\/strong><\/h2>\n<div class=\"page\" title=\"Page 6\">\n<div class=\"section\">\n<div class=\"layoutArea\">\n<div class=\"column\">\n<p style=\"font-weight: 400;\">Seg\u00fan el informe mensual de la OPEP de mayo de 2025, la producci\u00f3n petrolera venezolana alcanz\u00f3 los 1,05 millones de barriles diarios (MBD), de acuerdo con la comunicaci\u00f3n directa de PDVSA. Sin embargo, fuentes secundarias estiman una cifra menor, de 888 mil barriles diarios (MBD). A pesar de esta discrepancia, la producci\u00f3n ha crecido un 5% en lo que va de 2025, sumando 53 MBD adicionales respecto a diciembre de 2024.<\/p>\n<p style=\"font-weight: 400;\">La brecha entre las cifras de PDVSA y las fuentes secundarias genera incertidumbre sobre la producci\u00f3n real actual. Lo que s\u00ed es altamente probable es que estos niveles de producci\u00f3n comiencen a descender en los pr\u00f3ximos meses debido a la salida de Chevron de la industria petrolera venezolana. La empresa estadounidense desempe\u00f1aba un rol crucial en inversiones y en el mejoramiento del crudo mediante diluyentes, lo que permit\u00eda no solo aumentar la producci\u00f3n sino tambi\u00e9n las exportaciones.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<h3 class=\"fusion-responsive-typography-calculated\" style=\"text-align: center;\" data-fontsize=\"28\" data-lineheight=\"36.4px\"><strong>Gr\u00e1fico N\u00b010<\/strong>: Producci\u00f3n petrolera (mbd)<\/h3>\n<p style=\"text-align: center;\">Fuente: OPEC<\/p>\n<\/div><div style=\"text-align:center;\"><span class=\" fusion-imageframe imageframe-none imageframe-10 hover-type-none\" style=\"border-radius:8px;\"><img decoding=\"async\" width=\"554\" height=\"418\" title=\"Captura de pantalla 2025-06-11 a las 10.27.55\" src=\"https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.27.55.png\" data-orig-src=\"https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.27.55.png\" alt class=\"lazyload img-responsive wp-image-6908\" srcset=\"data:image\/svg+xml,%3Csvg%20xmlns%3D%27http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%27%20width%3D%27554%27%20height%3D%27418%27%20viewBox%3D%270%200%20554%20418%27%3E%3Crect%20width%3D%27554%27%20height%3D%27418%27%20fill-opacity%3D%220%22%2F%3E%3C%2Fsvg%3E\" data-srcset=\"https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.27.55-200x151.png 200w, https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.27.55-400x302.png 400w, https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.27.55.png 554w\" data-sizes=\"auto\" data-orig-sizes=\"(max-width: 640px) 100vw, 554px\" \/><\/span><\/div><\/div><style type=\"text\/css\">.fusion-body .fusion-builder-column-13{width:100% !important;margin-top : 20px;margin-bottom : 20px;}.fusion-builder-column-13 > .fusion-column-wrapper {padding-top : 0px !important;padding-right : 0px !important;margin-right : 1.92%;padding-bottom : 0px !important;padding-left : 0px !important;margin-left : 1.92%;}@media only screen and (max-width:1024px) {.fusion-body .fusion-builder-column-13{width:100% !important;order : 0;}.fusion-builder-column-13 > .fusion-column-wrapper {margin-right : 1.92%;margin-left : 1.92%;}}@media only screen and (max-width:640px) {.fusion-body .fusion-builder-column-13{width:100% !important;order : 0;}.fusion-builder-column-13 > .fusion-column-wrapper {margin-right : 1.92%;margin-left : 1.92%;}}<\/style><\/div><\/div><style type=\"text\/css\">.fusion-body .fusion-flex-container.fusion-builder-row-12{ padding-top : 0px;margin-top : 0px;padding-right : 0px;padding-bottom : 0px;margin-bottom : 0px;padding-left : 0px;}<\/style><\/div><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-13 fusion-flex-container has-pattern-background has-mask-background nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"background-color: rgba(255,255,255,0);background-position: center center;background-repeat: no-repeat;border-width: 0px 0px 0px 0px;border-color:hsla(var(--awb-color8-h),var(--awb-color8-s),var(--awb-color8-l),calc( var(--awb-color8-a) - 92% ));border-style:solid;\" ><div class=\"fusion-builder-row fusion-row fusion-flex-align-items-flex-start\" style=\"max-width:1248px;margin-left: calc(-4% \/ 2 );margin-right: calc(-4% \/ 2 );\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-14 fusion_builder_column_1_1 1_1 fusion-flex-column\"><div class=\"fusion-column-wrapper fusion-flex-justify-content-flex-start fusion-content-layout-column\" style=\"background-position:left top;background-repeat:no-repeat;-webkit-background-size:cover;-moz-background-size:cover;-o-background-size:cover;background-size:cover;padding: 0px 0px 0px 0px;\"><div class=\"fusion-text fusion-text-15\"><h2 class=\"fusion-responsive-typography-calculated\" data-fontsize=\"43\" data-lineheight=\"60.2px\"><strong>11.\u00a0<\/strong><strong>Cesta petrolera venezolana, WTI y Merey<\/strong><\/h2>\n<div class=\"page\" title=\"Page 6\">\n<div class=\"section\">\n<div class=\"layoutArea\">\n<div class=\"column\">\n<p style=\"font-weight: 400;\">En abril, las principales referencias del crudo experimentaron una disminuci\u00f3n significativa. El West Texas Intermediate (WTI) promedi\u00f3 US$ 63,08 por barril, una ca\u00edda del 7,2% mensual, y actualmente ronda los US$ 60,00 &#8211; 62,00. De forma similar, el Brent se ubic\u00f3 en US$ 66,46 promedio en abril (7% menos que en marzo), situ\u00e1ndose hoy entre los US$ 63,00 &#8211; 65,00.<\/p>\n<p style=\"font-weight: 400;\">La referencia venezolana, el Merey, report\u00f3 un precio promedio de US$ 56,72, marcando su cotizaci\u00f3n m\u00e1s baja en siete meses. Al contrastar con abril de 2024, cuando el Merey estaba en US$ 74,98, se evidencia una disminuci\u00f3n del 24% en t\u00e9rminos de precios, lo que se traduce en US$ 18,00 menos por cada barril. La Cesta Petrolera Venezolana promedi\u00f3 alrededor de US$ 56,00 por barril en abril.<\/p>\n<p style=\"font-weight: 400;\">Esta ca\u00edda generalizada de precios internacionales se debe al aumento de la oferta petrolera por parte de la OPEP y a las expectativas negativas generadas por los conflictos comerciales entre Estados Unidos y China. Aunque se han alcanzado algunos acuerdos, la incertidumbre persiste y la amenaza de una recesi\u00f3n global a\u00fan no se ha disipado. En este contexto, el crudo venezolano se comercializa con un descuento de entre el 15% y el 20% respecto a las referencias internacionales, lo que podr\u00eda llevar su precio de venta real a situarse cerca de los US$ 50,00 por barril.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<h3 class=\"fusion-responsive-typography-calculated\" style=\"text-align: center;\" data-fontsize=\"28\" data-lineheight=\"36.4px\"><strong>Gr\u00e1fico N\u00b011<\/strong>: Cesta petrolera venezolana (CPV), West Texas Intermediate (WTI) y Merey<\/h3>\n<p style=\"text-align: center;\">Fuente: OPEP, EIE y Albusdata<\/p>\n<\/div><div style=\"text-align:center;\"><span class=\" fusion-imageframe imageframe-none imageframe-11 hover-type-none\" style=\"border-radius:8px;\"><img decoding=\"async\" width=\"613\" height=\"389\" title=\"Captura de pantalla 2025-06-11 a las 10.28.00\" src=\"https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.28.00.png\" data-orig-src=\"https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.28.00.png\" alt class=\"lazyload img-responsive wp-image-6909\" srcset=\"data:image\/svg+xml,%3Csvg%20xmlns%3D%27http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%27%20width%3D%27613%27%20height%3D%27389%27%20viewBox%3D%270%200%20613%20389%27%3E%3Crect%20width%3D%27613%27%20height%3D%27389%27%20fill-opacity%3D%220%22%2F%3E%3C%2Fsvg%3E\" data-srcset=\"https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.28.00-200x127.png 200w, https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.28.00-400x254.png 400w, https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.28.00-600x381.png 600w, https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.28.00.png 613w\" data-sizes=\"auto\" data-orig-sizes=\"(max-width: 640px) 100vw, 613px\" \/><\/span><\/div><\/div><style type=\"text\/css\">.fusion-body .fusion-builder-column-14{width:100% !important;margin-top : 20px;margin-bottom : 20px;}.fusion-builder-column-14 > .fusion-column-wrapper {padding-top : 0px !important;padding-right : 0px !important;margin-right : 1.92%;padding-bottom : 0px !important;padding-left : 0px !important;margin-left : 1.92%;}@media only screen and (max-width:1024px) {.fusion-body .fusion-builder-column-14{width:100% !important;order : 0;}.fusion-builder-column-14 > .fusion-column-wrapper {margin-right : 1.92%;margin-left : 1.92%;}}@media only screen and (max-width:640px) {.fusion-body .fusion-builder-column-14{width:100% !important;order : 0;}.fusion-builder-column-14 > .fusion-column-wrapper {margin-right : 1.92%;margin-left : 1.92%;}}<\/style><\/div><\/div><style type=\"text\/css\">.fusion-body .fusion-flex-container.fusion-builder-row-13{ padding-top : 0px;margin-top : 0px;padding-right : 0px;padding-bottom : 0px;margin-bottom : 0px;padding-left : 0px;}<\/style><\/div><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-14 fusion-flex-container has-pattern-background has-mask-background nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"background-color: rgba(255,255,255,0);background-position: center center;background-repeat: no-repeat;border-width: 0px 0px 0px 0px;border-color:hsla(var(--awb-color8-h),var(--awb-color8-s),var(--awb-color8-l),calc( var(--awb-color8-a) - 92% ));border-style:solid;\" ><div class=\"fusion-builder-row fusion-row fusion-flex-align-items-flex-start\" style=\"max-width:1248px;margin-left: calc(-4% \/ 2 );margin-right: calc(-4% \/ 2 );\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-15 fusion_builder_column_1_1 1_1 fusion-flex-column\"><div class=\"fusion-column-wrapper fusion-flex-justify-content-flex-start fusion-content-layout-column\" style=\"background-position:left top;background-repeat:no-repeat;-webkit-background-size:cover;-moz-background-size:cover;-o-background-size:cover;background-size:cover;padding: 0px 0px 0px 0px;\"><div class=\"fusion-text fusion-text-16\"><h2 class=\"fusion-responsive-typography-calculated\" data-fontsize=\"43\" data-lineheight=\"60.2px\"><strong>12. <\/strong><b><span lang=\"ES-VE\">Riesgo de Inversi\u00f3n \u2013 EMBI<\/span><\/b><\/h2>\n<div class=\"page\" title=\"Page 6\">\n<div class=\"section\">\n<div class=\"layoutArea\">\n<div class=\"column\">\n<p style=\"font-weight: 400;\">El \u00cdndice de Bonos de Mercados Emergentes (EMBI) de J.P. Morgan para Venezuela cerr\u00f3 mayo en 170,86 puntos, lo que representa una disminuci\u00f3n del 14% respecto a abril, ubic\u00e1ndose en niveles similares a meses previos. Este indicador, que mide el riesgo de inversi\u00f3n considerando el comportamiento de la deuda de pa\u00edses emergentes, sigue siendo notablemente alto para Venezuela. Esto refleja las dificultades econ\u00f3micas, pol\u00edticas y sociales del pa\u00eds, as\u00ed como las bajas probabilidades de que cumpla con sus obligaciones financieras, lo que se traduce en un riesgo de inversi\u00f3n elevado.<\/p>\n<p style=\"font-weight: 400;\">En nuestra regi\u00f3n a parte de Venezuela, Bolivia, Ecuador y Argentina, son las naciones que tiene mayor nivel de EMBI. Bolivia se ubica en 20,02 puntos, Ecuador en 10,98 puntos y Argentina en 6,78 puntos. El promedio regional del EMBI es de apenas 4,22 puntos, lo que subraya la posici\u00f3n de Venezuela como el pa\u00eds con el mayor riesgo percibido en la regi\u00f3n.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<h3 class=\"fusion-responsive-typography-calculated\" style=\"text-align: center;\" data-fontsize=\"28\" data-lineheight=\"36.4px\"><strong>Gr\u00e1fico N\u00b012<\/strong>: <span lang=\"ES-VE\">Riesgo de inversi\u00f3n Venezuela, Latam y el Mundo<\/span><\/h3>\n<p style=\"text-align: center;\">Fuente: OPEP, EIE y Albusdata<\/p>\n<\/div><div style=\"text-align:center;\"><span class=\" fusion-imageframe imageframe-none imageframe-12 hover-type-none\" style=\"border-radius:8px;\"><img decoding=\"async\" width=\"600\" height=\"351\" title=\"Captura de pantalla 2025-06-11 a las 10.28.06\" src=\"https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.28.06.png\" data-orig-src=\"https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.28.06.png\" alt class=\"lazyload img-responsive wp-image-6910\" srcset=\"data:image\/svg+xml,%3Csvg%20xmlns%3D%27http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%27%20width%3D%27600%27%20height%3D%27351%27%20viewBox%3D%270%200%20600%20351%27%3E%3Crect%20width%3D%27600%27%20height%3D%27351%27%20fill-opacity%3D%220%22%2F%3E%3C%2Fsvg%3E\" data-srcset=\"https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.28.06-200x117.png 200w, https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.28.06-400x234.png 400w, https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.28.06.png 600w\" data-sizes=\"auto\" data-orig-sizes=\"(max-width: 640px) 100vw, 600px\" \/><\/span><\/div><\/div><style type=\"text\/css\">.fusion-body .fusion-builder-column-15{width:100% !important;margin-top : 20px;margin-bottom : 20px;}.fusion-builder-column-15 > .fusion-column-wrapper {padding-top : 0px !important;padding-right : 0px !important;margin-right : 1.92%;padding-bottom : 0px !important;padding-left : 0px !important;margin-left : 1.92%;}@media only screen and (max-width:1024px) {.fusion-body .fusion-builder-column-15{width:100% !important;order : 0;}.fusion-builder-column-15 > .fusion-column-wrapper {margin-right : 1.92%;margin-left : 1.92%;}}@media only screen and (max-width:640px) {.fusion-body .fusion-builder-column-15{width:100% !important;order : 0;}.fusion-builder-column-15 > .fusion-column-wrapper {margin-right : 1.92%;margin-left : 1.92%;}}<\/style><\/div><\/div><style type=\"text\/css\">.fusion-body .fusion-flex-container.fusion-builder-row-14{ padding-top : 0px;margin-top : 0px;padding-right : 0px;padding-bottom : 0px;margin-bottom : 0px;padding-left : 0px;}<\/style><\/div><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-15 fusion-flex-container has-pattern-background has-mask-background nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"background-color: rgba(255,255,255,0);background-position: center center;background-repeat: no-repeat;border-width: 0px 0px 0px 0px;border-color:hsla(var(--awb-color8-h),var(--awb-color8-s),var(--awb-color8-l),calc( var(--awb-color8-a) - 92% ));border-style:solid;\" ><div class=\"fusion-builder-row fusion-row fusion-flex-align-items-flex-start\" style=\"max-width:1248px;margin-left: calc(-4% \/ 2 );margin-right: calc(-4% \/ 2 );\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-16 fusion_builder_column_1_1 1_1 fusion-flex-column\"><div class=\"fusion-column-wrapper fusion-flex-justify-content-flex-start fusion-content-layout-column\" style=\"background-position:left top;background-repeat:no-repeat;-webkit-background-size:cover;-moz-background-size:cover;-o-background-size:cover;background-size:cover;padding: 0px 0px 0px 0px;\"><div class=\"fusion-text fusion-text-17\"><h2 class=\"fusion-responsive-typography-calculated\" data-fontsize=\"43\" data-lineheight=\"60.2px\"><strong>13. <\/strong><strong>Mercado burs\u00e1til de Venezuela <\/strong><\/h2>\n<div class=\"page\" title=\"Page 6\">\n<div class=\"section\">\n<div class=\"layoutArea\">\n<div class=\"column\">\n<p style=\"font-weight: 400;\">La Bolsa de Valores de Caracas (BVC) cerr\u00f3 mayo con un notable crecimiento del 31% en su \u00cdndice Burs\u00e1til Caracas (IBC), alcanzando los 310.922,03 puntos. Este mes se destac\u00f3 como uno de los per\u00edodos con mayor volumen transado de los \u00faltimos a\u00f1os, registrando 6.711 operaciones que movilizaron un monto total de US$ 23 millones.<\/p>\n<p style=\"font-weight: 400;\">Al analizar los segmentos del mercado, el de otros bienes lider\u00f3 con US$ 10,2 millones transados, lo que representa el 44% del total. Le sigui\u00f3 el mercado de renta variable, con 6.485 operaciones y un monto de US$ 7,8 millones (34% del total). Por su parte, el mercado de renta fija primario registr\u00f3 91 operaciones y un total de US$ 4,1 millones, mientras que el de renta fija secundario sum\u00f3 45 operaciones por un saldo aproximado de US$ 941 mil.<\/p>\n<p style=\"font-weight: 400;\">Las acciones con mayor volumen de negociaci\u00f3n durante mayo incluyeron las de Banco Provincial, Bolsa de Valores de Caracas, Banco Nacional de Cr\u00e9dito, Ron Santa Teresa y Banco de Venezuela.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<h3 class=\"fusion-responsive-typography-calculated\" style=\"text-align: center;\" data-fontsize=\"28\" data-lineheight=\"36.4px\"><strong>Gr\u00e1fico N\u00b013<\/strong>: <span lang=\"ES-VE\">Montos de las operaciones de la Bolsa de Valores de Caracas<\/span><\/h3>\n<p style=\"text-align: center;\">Fuente: Bolsa de Valores de Caracas<\/p>\n<\/div><div style=\"text-align:center;\"><span class=\" fusion-imageframe imageframe-none imageframe-13 hover-type-none\" style=\"border-radius:8px;\"><img decoding=\"async\" width=\"617\" height=\"385\" title=\"Captura de pantalla 2025-06-11 a las 10.28.11\" src=\"https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.28.11.png\" data-orig-src=\"https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.28.11.png\" alt class=\"lazyload img-responsive wp-image-6911\" srcset=\"data:image\/svg+xml,%3Csvg%20xmlns%3D%27http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%27%20width%3D%27617%27%20height%3D%27385%27%20viewBox%3D%270%200%20617%20385%27%3E%3Crect%20width%3D%27617%27%20height%3D%27385%27%20fill-opacity%3D%220%22%2F%3E%3C%2Fsvg%3E\" data-srcset=\"https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.28.11-200x125.png 200w, https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.28.11-400x250.png 400w, https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.28.11-600x374.png 600w, https:\/\/cedice.org.ve\/ogp\/wp-content\/uploads\/2025\/06\/Captura-de-pantalla-2025-06-11-a-las-10.28.11.png 617w\" data-sizes=\"auto\" data-orig-sizes=\"(max-width: 640px) 100vw, 617px\" \/><\/span><\/div><\/div><style type=\"text\/css\">.fusion-body .fusion-builder-column-16{width:100% !important;margin-top : 20px;margin-bottom : 20px;}.fusion-builder-column-16 > .fusion-column-wrapper {padding-top : 0px !important;padding-right : 0px !important;margin-right : 1.92%;padding-bottom : 0px !important;padding-left : 0px !important;margin-left : 1.92%;}@media only screen and (max-width:1024px) {.fusion-body .fusion-builder-column-16{width:100% !important;order : 0;}.fusion-builder-column-16 > .fusion-column-wrapper {margin-right : 1.92%;margin-left : 1.92%;}}@media only screen and (max-width:640px) {.fusion-body .fusion-builder-column-16{width:100% !important;order : 0;}.fusion-builder-column-16 > .fusion-column-wrapper {margin-right : 1.92%;margin-left : 1.92%;}}<\/style><\/div><\/div><style type=\"text\/css\">.fusion-body .fusion-flex-container.fusion-builder-row-15{ padding-top : 0px;margin-top : 0px;padding-right : 0px;padding-bottom : 0px;margin-bottom : 0px;padding-left : 0px;}<\/style><\/div><\/p>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":1,"featured_media":6897,"menu_order":0,"comment_status":"open","ping_status":"closed","template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"portfolio_category":[18],"portfolio_skills":[],"portfolio_tags":[],"class_list":["post-6896","avada_portfolio","type-avada_portfolio","status-publish","format-standard","has-post-thumbnail","hentry","portfolio_category-vzla-en-cifras"],"aioseo_notices":[],"aioseo_head":"\n\t\t<!-- All in One SEO 5.0.2.1 - aioseo.com -->\n\t<meta name=\"description\" content=\"Con el objetivo de hacerle seguimiento a la evoluci\u00f3n de la macroeconom\u00eda venezolana y de evidenciar su relevante v\u00ednculo con el gasto p\u00fablico, el Observatorio de Gasto P\u00fablico de Cedice Libertad desarrolla los Reportes Macro-OGP, ofreciendo a la ciudadan\u00eda e influenciadores clave informaci\u00f3n valiosa y permiti\u00e9ndole el monitoreo de estos indicadores. 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